According to research conducted by banking group Mirabaud, the Middle East is set to become increasingly active in the global hedge fund industry, with the UAE and Qatar playing potentially dominant roles in the region, the report said.

Mirabaud forecasts that hedge funds will become increasingly attractive to the region's ever-more sophisticated regional investors, especially given the high levels of excess liquidity in the Middle East.

CEO Gilles Rollet said, "Globally, hedge fund centres have emerged from the most sophisticated financial centres, such as New York, London, Hong Kong and Singapore. The relevant defining attribute of each of these locations is the maturity of their capital markets....The Dubai International Financial Centre has even taken the step, through its regulating body the Dubai Financial Services Authority, to create a Hedge Fund Code of Practice, giving legal weight to the effort to make Dubai a centre in the hedge fund industry."

More at; UAE and Qatar Hedge Fund Boom